ProfitableVenture.com

Helping You Start a Business With Less Risk!

A Sample Dental Office Business Plan Template

Are you about starting a dental clinic? If YES, here is a complete sample dental office business plan template & feasibility study you can use for FREE.

Okay, so we have considered all the requirements for starting a dental office business. We also took it further by analyzing and drafting a sample dental care service marketing plan template backed up by actionable guerrilla marketing ideas for dental offices. So let’s proceed to the business planning section.

It might no longer be new to you that health is indeed wealth. We all have come to know that aphorism without any hassle. It is therefore in place to say that when one has a sound health, one can be of optimum relevance to the society. This is one of the reason those who are in the medical line are solving this problem through diverse healthcare businesses. One healthcare business that is focus here is the dental clinic.

What Does It Take to Start a Dental Clinic Successfully?

If you are a dentist and are interested in starting a business in the healthcare industry, one of the most preferred options is to open a dental clinic. With minimal startup capital you can successfully launch your own dental clinic. Before choosing a location for your dental clinic, ensure that you carry out thorough market survey and feasibility studies. It will pay you to locate your dental clinic in a location where you will attract people that can pay for your services. The truth is that this type of business is profitable especially if you choose an ideal location for it.

Starting a dental clinic is one of those businesses that requires you to first look at the existing laws in the country or the State you reside, before going all out to start the business. This is so because there is hardly any country that does not pay serious attention on their health sector. The health industry is usually highly regulated so as to guide against the infiltration of quacks or substandard hospital, clinics or health facilities.

If you have an interest in starting your own dental clinic, then you would need to pay a visit to the health and medical regulatory body in your country (the department / ministry of health and medical services) to get all the needed information that is required before you can legally start your own dental clinic in your city.

Here is a sample dental clinic business plan that is capable of leading you all the way;

A Sample Dental Office Business Plan Template

  • Dental Clinic Business Overview

No doubt, the healthcare cum medical industry of which dental clinic is a subset of is perhaps one of the fastest growing and largest industries in the world; this is so because the wealth of any nation depends on the health of the nation. Obviously there is hardly any country where the health care industry is not handled with all seriousness. As a matter of fact, the healthcare industry is known to gulp well over 10 percent of gross domestic product (GDP) of most developed countries.

The dentists industry includes practitioners with Doctor of Dental Medicine (DDM), Doctor of Dental Surgery (DDS) or Doctor of Dental Science (DDSc) degrees. Businesses that operate in this industry are primarily involved in the independent practice of general or specialized dentistry or dental surgery. Dentists are known to either operate private or group practices in their own offices (e.g. centers or clinics et al).

There is indeed a very large market for healthcare service providers in the United States and of course in most parts of the world. For instance, the World Health Organization (W.H.O) estimated that there are about 9.2 million physicians, 19.4 million nurses and midwives, 1.9 million dentists and other dentistry personnel, 2.6 million pharmacists and other pharmaceutical personnel, and over 1.3 million community health workers worldwide. This goes to show that the health care industry is indeed one of the largest segments of the workforce of any nation.

It is on record that in 2011, healthcare costs paid to hospitals, dental clinics, physicians, nursing homes, diagnostic laboratories, pharmacies, medical device manufacturers and other players in the health care system business value chain, consumed an estimated value of 17.9 percent of the Gross Domestic Product (GDP) of the United States. This is indeed the largest of any country in the world. As a matter of fact, experts projected that the healthcare share of the GDP of the United States will continue to grow, reaching 19.6 percent of GDP by 2016.

The Dentists industry is indeed a very massive industry in the U.S. Recent statistics has it that The Dentists industry in the United States of America, is worth over $129bn, with an estimated growth rate of 3.4 percent. There are about 182,784 dental clinics in the United States and they are responsible for employing about 955,958people that comprises of dentist, dental surgeons, nurses and other health and non – health workers. It is important to state that there are no dental clinics with a lion share of the available market in the United States.

If you are considering starting your own dental clinic in the United States, then you should try and work around the industry barriers. The truth is that, the barriers to entry in the dental clinic line of business are high and this is due to the significant regulatory requirements and the experience and strength of incumbents. For example, medical licensure creates a barrier to entry in the healthcare sector.

As a matter of fact, it is absolutely compulsory for any investor who is looking towards starting a dental clinic to meet extensive federal, state and local laws and regulations. These regulations relate to the adequacy of medical care, equipment, personnel, operating policies and procedures. Regulations also involve maintaining adequate records, preventing fires, setting rates and complying with building codes and environmental protection laws. These regulations make it difficult and costly for aspiring entrepreneurs to enter the industry.

Over and above, if you are determined and ready to go all the way, you will surely succeed in establishing your own dental clinic in the United States of America and you will be glad you did because it is indeed a profitable line of business.

Dental Office Business Plan – Executive Summary

Benny Blanco® Dental Clinic, LCC is a standard, licensed and certified dental clinic that will be located in the heart of Long Beach, California – United States of America. We have been able to acquire a standard facility that is highly suitable for the kind of dental clinic business we want to operate.

Benny Blanco® Dental Clinic, LCC is in the healthcare cum dentist industry to provide dental care services such as dental consultations and diagnostic services, preventative services, restorative dental services, prosthodontics (fixed and removable), orthodontics, surgical oral and maxillofacial services, nonsurgical endodontic services, independent general dental practicing, independent specialized dental practicing, dental surgery, dental examinations, and dental treatments et al. We are well trained and equipped to service the market segments that require dental care services.

We are in the dental care business to deliver excellent dental care services to all those who will patronize our services. We will also ensure that in the line of carrying out our duty, we comply with the laws and health regulations in California and The United States of America. Our employees are well trained and qualified to handle the wide range of dental care services.

Benny Blanco® Dental Clinic, LCC will operate a 24 hours 7 days a week dental service; our dental clinic facility will be opened round the clock to attend to clients (patients). We have a standard medical call center that is manned by trained health workers. Our workforce is going to be well trained to operate within the framework of our organization’s corporate culture and also to meet the needs of all our customers.

Benny Blanco® Dental Clinic, LCC will ensure that all our patients cum customers are given first class treatment whenever they visit our dental clinic. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base grows.

Benny Blanco® Dental Clinic, LCC is a family business that is owned and managed by Dr. Benny Blanco Doctor of Dental Surgery (DDS) and his wife Johannes Blanco (Nurse). Dr. Benny Blanco is going to be the Medical Director (Chief Executive Officer) of the dental clinic; He is a qualified and well trained Doctor of Dental Surgery (DDS) with well over 15 years of experience working as a dental surgeon and dentistry researcher with the United States’ government. He will be ably supported by his wife Johannes Blanco who has grown in her career to become one of the most respected senior nurses in Long Beach – California.

  • Our Services

Benny Blanco® Dental Clinic, LCC is in the business of ensuring that our patient / clients are well treated and taken care of and our services will be carried out by highly trained professional in the dentists industry who know what it takes to give our highly esteemed customers (patients) value for their money.

These are the dental care services that Benny Blanco® Dental Clinic, LCC will be offering;

  • Independent general dental practicing
  • Independent specialized dental practicing
  • Dental surgery
  • Dental examinations
  • Dental treatments
  • Dental consultations and diagnostic services
  • Preventative services
  • Restorative dental services
  • Prosthodontics (fixed and removable)
  • Orthodontics
  • Surgical oral and maxillofacial services
  • Nonsurgical endodontic services

Our Vision Statement

Our vision is to become the number one choice when it comes to dental care service delivery in the whole of Long Beach, California and also to be amongst the top 20 dental care service providers in the United States of America within the next 10 years.

  • Our Mission Statement

Benny Blanco® Dental Clinic, LCC is in business is to establish a first class dental clinic that will take care of both highly placed clients and lowly placed clients as long as they can afford our services. We want to become one of the leaders in the dentists industry in California, and in The United States of America.

  • Our Business Structure

Benny Blanco® Dental Clinic, LCC is a business that will be built on a concrete foundation. From the outset, we have decided to recruit only qualified professionals in the dentists industry to man various job positions in our organization.

We are quite aware of the rules and regulations governing the dentists industry which is why we decided to recruit only well experienced and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our dental clinic brand to be well accepted in Long Beach California and the whole of the United States.

When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. These are the positions that will be available at Benny Blanco® Dental Clinic, LCC;

  • Chief Medical Director / Chief Executive Officer
  • Dentist / Doctor of Dental Surgery (DDS)
  • Pharmacist
  • Nurses / Nurse’s Aides
  • Admin and Human Resources Manager
  • Sales and Marketing Executive
  • Accountant / Cashier
  • Customer Care Executive
  • Cleaners

Roles and Responsibilities

Chief Medical Director / Chief Executive Officer:

  • Responsible for providing direction for the business
  • Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Attends to high profile clients and severe dental surgery cases
  • Responsible for fixing prices and signing business deals
  • Responsible for recruitment
  • Responsible for payment of salaries
  • Responsible for signing checks and documents on behalf of the organization
  • Evaluates the success of the organization

Dentists / Doctor of Dental Surgery (DDS)

  • Handles independent general dental practicing
  • Independent specialized dental practicing
  • Responsible for dental surgery
  • Handles dental examinations
  • Handles dental treatments
  • Handles dental consultations and diagnostic services
  • Responsible for preventative services
  • Handles restorative dental services
  • Handles prosthodontics (fixed and removable)
  • Responsible for orthodontics
  • Handles surgical oral and maxillofacial services
  • Handles nonsurgical endodontic services

Pharmacist:

  • Responsible for managing the daily activities in the dental clinic (dispensary store)
  • providing advice about health issues, symptoms and medications in response to customer enquiries
  • Responsible for recruiting, training and managing staff
  • Responsible for processing prescriptions and dispensing medication
  • Responsible for ordering, selling and controlling medicines and other stock
  • Responsible for meeting medical representatives
  • Responsible for managing the organizations’ budgets
  • Responsible for keeping statistical and financial records
  • Responsible for preparing publicity materials and displays
  • Handles marketing services
  • Interfaces with third – party providers (vendors)
  • Handles any other duty as assigned by the Medical Director.

Nurses / Nurse’s Aides

  • Responsible for managing our patients
  • Handles dental and oral injury case management
  • Responsible for offering medication management services
  • Assists the dentists and dental surgeon in treating patients and during dental surgery

Sales and Marketing Manager

  • Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Models demographic information and analyze the volumes of transactional data generated by customer
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Creates new markets cum businesses for the organization
  • Empowers and motivates the sales team to meet and surpass agreed targets

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Benny Blanco® Dental Clinic, LCC
  • Serves as internal auditor for Benny Blanco® Dental Clinic, LCC.

Client Service Executive

  • Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the chief executive officer in an effective and timely manner
  • Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

Cleaners:

  • Responsible for cleaning the dental clinic facility at all times
  • Ensure that toiletries and supplies don’t run out of stock
  • Cleans both the interior and exterior of the dental clinic facility
  • Handle any other duty as assigned by the admin and HR manager.

Dental Office Business Plan – SWOT Analysis

Benny Blanco® Dental Clinic, LCC is set to become one of the leading dental clinics in Long Beach, California which is why we are willing to take our time to cross every ‘Ts’ and dot every ‘Is’ as it relates to our business. We want our dental clinic to be the number one choice of all residence and corporate organizations in Long Beach – California.

We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.

Even though our Chief Medical Director (owner) has a robust experience in dentists industry, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the dentists / dental care industry.

This is the summary of the SWOT analysis that was conducted for Benny Blanco® Dental Clinic, LCC;

  • Strength:

Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our dental clinic. As a matter of fact, they are some of the best hands in the whole of Long Beach – California. Our location, the business model we will be operating on, opening 24 hours daily and 7 days in a week, multiple payment options, well equipped medical call center and our excellent customer service culture will definitely count as a strong strength for us.

  • Weakness:

Our perceived weakness lies in the point that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business and also the finance needed for the acquiring some of the latest medical and dental surgical equipment et al.

  • Opportunities:

The opportunities that are available to dental care services providers are unlimited and we are going to position our dental clinic to make the best out of the opportunities that will be available to us in Long Beach – California.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies (healthcare reform). It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is the arrival of a new and bigger / well established hospital or dental clinic brand in same location where our dental clinic is located.

Dental Clinic Business Plan – MARKET ANALYSIS

  • Market Trends

The Dentists cum dental care industry has benefited from favorable government policies, favorable demographic trends, technological advances and of course continuous awareness of oral hygiene. Nevertheless, better dental preventive care has slightly suppressed the revenue generated in the industry.

So also, limited patient access to dental care, due to nearly one-half of states in the United States only covering emergency dental care for Medicaid patients, has caused some dental clinics to lower prices and cut into profitability.

The dentist cum dental care industry has recently begun consolidating, largely due to the pressures of healthcare reform. The truth is that, the demand for dental care services has steadily grown over the last five years, as dental care reform legislation broadened insurance coverage and the plummeting unemployment rate increased disposable income.

As an investor in the dentists cum dental care industry, in order to maintain an advantaged position in this competitive industry, you should source for the most skilled and specialized dental care professionals.

One thing about this industry is that labor costs are on the high side. However, hospitals have also faced nurse and dentist shortages and have struggled to recruit qualified personnel. Industry profitability has generally risen over the past five years due to increases in service prices. No doubt the dentists cum dental care industry will continue to grow and become more profitable because of the increasing awareness of oral hygiene.

  • Our Target Market

Benny Blanco® Dental Clinic, LCC is in business to service a wide range of but corporate and individual customers in Long Beach – California. We will ensure that we target but self – pay customers (who do not have health insurance cover), and those who have health insurance cover.

Generally, every living person, whether old or young will at one point or the order need to visit a dental clinic due to dental or oral health challenge.

The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the dentists cum dental care industry in the United States. Our staff is well – trained to effectively service our customers and give them value for their monies.

Our customers can be categorized into the following;

  • The whole residents within the area where our dental clinic is located
  • Corporate organizations such as banks, insurance companies, manufacturing companies, oil and gas companies et al
  • Schools
  • Health Management Organizations (HMOs)

Our Competitive Advantage

Aside from the competition that exists amongst various dental clinics, they also compete against other healthcare services providers such as hospitals, health centers and community clinics et al. that provide dental care services.

To be highly competitive in the dentists cum dental care industry means that you should be able to deliver consistent quality dental treatment and dental care service and should be able to meet the expectations of your patients at all time; they should experience improvement in their health when they patronize your dental clinic.

Benny Blanco® Dental Clinic, LCC is coming into the market well prepared to favorably compete in the industry. Our dental clinic facility is well positioned (centrally positioned) and visible, we have enough parking space with good security.

Our staff is well groomed in all aspect of dental care service delivery and all our employees are trained to provide customized customer service to all our clients (patients). Our services will be carried out by highly trained professionals who know what it takes to give our highly esteemed customers value for their money.

We are going to be one of the few dental clinics in the whole of Long Beach – California that will run a standard medical call center for 24 hours a day and 7 days a week. We have enough trained dental health workers that are ready to run a shift system.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups dental care service providers in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

Dental Clinic Business Plan – SALES AND MARKETING STRATEGY

  • Sources of Income

Benny Blanco® Dental Clinic, LCC will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the sources we intend exploring to generate income for Benny Blanco® Dental Clinic, LCC;

  • Independent general dental practicing
  • Independent specialized dental practicing
  • Dental surgery
  • Dental examinations
  • Dental treatments
  • Dental consultations and diagnostic services
  • Preventative services
  • Restorative dental services
  • Prosthodontics (fixed and removable)
  • Orthodontics
  • Surgical oral and maxillofacial services
  • Nonsurgical endodontic services

Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.

We have been able to critically examine the dental care market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Long Beach – California.

Below is the sales projection for Benny Blanco® Dental Clinic, LCC it is based on the location of our hospital and of course the wide range of our services and target market;

First Fiscal Year-: $50,000 (From Self – Pay Clients / Patients): $100,000 (From Health Insurance Companies)

Second Fiscal Year-: $100,000 (From Self – Pay Clients / Patients): $150,000 (From Health Insurance Companies)

Third Year-: $150,000 (From Self – Pay Clients / Patients): $300,000 (From Health Insurance Companies)

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

The marketing and sales strategy of Benny Blanco® Dental Clinic, LCC will be based on generating long-term personalized relationships with customers. In order to achieve that, we will ensure that we offer top notch all – round dental care services at affordable prices compare to what is obtainable in Long Beach – California.

All our employees will be well trained and equipped to provide excellent and knowledgeable dental care services and customer service. We know that if we are consistent with offering high quality dental care service delivery and excellent customer service, we will increase the number of our customers by more than 25 percent for the first fiscal year and then more than 40 percent subsequently.

Before choosing a location for our dental clinic, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence and corporate organizations in Long Beach – California. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the dentists cum dental care industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Long Beach – California.

In summary, Benny Blanco® Dental Clinic, LCC will adopt the following sales and marketing approach to win customers over;

  • Introduce our business by sending introductory letters to residence, business owners and corporate organizations in and around Long Beach – California
  • Advertise our dental clinic in community based newspapers, local TV and local radio stations
  • List our dental clinic on yellow pages ads (local directories)
  • Leverage on the internet to promote our dental clinic
  • Engage in direct marketing
  • Leverage on word of mouth marketing (referrals)
  • Enter into business partnership with health management organizations, government agencies and health insurance companies.
  • Attend health care related exhibitions / expos.

Dental Office Business Plan – Publicity and Advertising Strategy

We are in the dental care line of business to become one of the market leaders and also to maximize profits hence we are going to explore all available conventional and non – conventional means to promote our dental clinic.

Benny Blanco® Dental Clinic, LCC has a long term plan of opening our dental clinic in key cities around California which is why we will deliberately build our brand to be well accepted in Long Beach before venturing out. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public.

Here are the platforms we intend leveraging on to promote and advertise Benny Blanco® Dental Clinic, LCC;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community health programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Long Beach – California.
  • Engage in road show from time to time in target communities
  • Distribute our fliers and handbills in target areas
  • Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our dental clinic’s logo et al.

Our Pricing Strategy

Benny Blanco® Dental Clinic, LCC will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America.

On the average, dental clinics, hospitals and health care service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for dental clinics, hospitals and health care service providers to bill their clients based in their discretions.

However, in some cases dental clinics, hospitals and health care service providers also adopt the hourly billing cum per visit billing method. For example, it is easier and preferable for dental clinics, hospitals and healthcare services providers to bill oral injury case management services by the hour as against a fixed price.

  • Payment Options

At Benny Blanco® Dental Clinic, LCC, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

  • Payment by cash
  • Payment via Point of Sale (POS) Machine
  • Payment via online bank transfer (online payment portal)
  • Payment via Mobile money
  • Check (only from loyal customers)

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.

  • Start – Up Expenditure (Budget)

If you are looking towards starting a standard dental clinic, then you should be ready to go all out to ensure that you raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.

You would need money to secure a standard dental clinic facility, you will need money to acquire medical equipment and supply and you would need money to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them.

The items listed below are the basics that we would need when starting our dental clinic in the United States, although costs might vary slightly;

  • The Total Fee for Registering the Business in the United States – $750.
  • Legal expenses for obtaining licenses and permits – $1,500.
  • Marketing promotion expenses for the grand opening of Benny Blanco® Dental Clinic, LCC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
  • Cost for hiring Business Consultant – $2,500.
  • Cost for Computer Software (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software) – $7,000
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400.
  • Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
  • Cost for dental clinic remodeling (construction of racks and shelves) – $20,000.
  • Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $300,000
  • The cost for Start-up inventory (stocking with a wide range of pharmaceutical items) – $150,000
  • Storage hardware (bins, rack, shelves,) – $3,720
  • Cost for Nurse and Drugs Supplies (Injections, Bandages, Scissors, et al)- $3,000
  • Cost for dental / medical equipment – $100,000
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
  • The cost of Launching a Website: $700
  • Miscellaneous: $10,000

We would need an estimate of $700,000 to successfully set up our dental clinic in Long Beach – California. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding / Startup Capital for Benny Blanco® Dental Clinic, LCC

Benny Blanco® Dental Clinic, LCC is a private business that is solely owned and financed by Dr. Benny Blanco and his wife Johannes Blanco (Nurse). They do not intend to welcome any external business partners, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas Benny Blanco® Dental Clinic, LCC intends to generate our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

Dental Office Business Plan – Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Benny Blanco® Dental Clinic, LCC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our dental care services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Benny Blanco® Dental Clinic, LCC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our organizations’ corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility and remodeling the facility to suit the design of our dental clinic: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of Dental / Medical Equipment et al: In Progress
  • Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In Progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
  • Compilation of our list of products that will be available in our pharmacy store: Completed
  • Establishing business relationship with vendors (wholesale pharmaceutical companies): In Progress

 

ProfitableVenture.com © 2015 - 2016 | All Rights Reserved | See About us | Privacy Policy and Disclaimer.